This document defines management and outlines its key principles and functions. It states that management involves planning, organizing, staffing, directing, coordinating, controlling and decision making. The document also lists characteristics of management such as it being both an art and a science. It discusses the importance of management in optimizing resources and achieving organizational goals. Finally, it outlines necessary managerial skills such as conceptual, human relations, technical, diagnostic, analytical, communication, leadership and administrative skills.

1. Principles of Management

2. Definition Henry Fayol “ To manage is to forecast and plan, to organize, to compound, to coordinate and to control” Harold Koontz “ Management is the art of getting things done through and with an informally organized group”

3. Characteristics of Management Art as well as science Management is an activity It is a continuous process It is a dynamic process It is aimed at achieving pre-determined objectives Organized activity It is a discipline

4. …Cont. It is all pervasive Team-spirit It involves decision-making It is innovative It is different from ownership Universal application Management is a profession It has different operational levels

5. Functions of Management Planning Organizing Staffing Directing Coordinating Motivating Controlling Innovation Decision-making Communication

6. Importance of Management Optimum utilization of resources Effective functioning of the business Integrates various interests Coordination and team-spirit Cordial industrial relations Reduces turnover and absenteeism Accomplishment of group goals Stability. Prosperity, expansion

7. Managerial Skills

8. …Cont. Conceptual Skills- Vision, imagination and intelligence to set appropriate organizational goals for the organization Human relations skills- Interaction, motivation, guidance, self evaluation, coordination Technical skills- Knowledge, competence, techniques

9. …Cont. Diagnostic skills Analyze, examine and determine solution to management problems Analytical skills Logic, rationality, problem solving, evaluate alternatives Communication skills Soft skills to deal with employees, suppliers, Govt., outside world Leadership skills Inspire, respect, lead, motivate Administrative skills Framing policies, plans, conflict free working

10. Role of Manager Henry Mintzberg

11. The Managerial Roles